PG&E (PCG) Set to Announce Earnings on Thursday

PG&E (NYSE:PCG) will release its earnings data before the market opens on Thursday, April 25th. Analysts expect PG&E to post earnings of $0.35 per share for the quarter. PG&E has set its FY 2024 guidance at 1.330-1.370 EPS and its FY24 guidance at $1.33-$1.37 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.43 billion. PG&E had a net margin of 9.24% and a return on equity of 10.84%. During the same period in the previous year, the firm posted $0.26 earnings per share. On average, analysts expect PG&E to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

PG&E Trading Up 2.6 %

PCG opened at $16.44 on Thursday. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.83 and a quick ratio of 0.78. The company has a market cap of $35.13 billion, a price-to-earnings ratio of 15.66 and a beta of 1.32. The firm has a 50 day simple moving average of $16.51 and a 200 day simple moving average of $16.83. PG&E has a fifty-two week low of $14.71 and a fifty-two week high of $18.32.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend was Wednesday, March 27th. PG&E’s dividend payout ratio (DPR) is 3.81%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Clear Street Markets LLC bought a new stake in PG&E during the fourth quarter worth $26,000. Quarry LP bought a new stake in PG&E during the second quarter worth $34,000. Harbour Investments Inc. raised its position in PG&E by 162.1% during the third quarter. Harbour Investments Inc. now owns 4,076 shares of the utilities provider’s stock worth $66,000 after acquiring an additional 2,521 shares in the last quarter. Pacific Center for Financial Services bought a new stake in PG&E during the first quarter worth $79,000. Finally, International Assets Investment Management LLC raised its position in PG&E by 84.9% during the fourth quarter. International Assets Investment Management LLC now owns 5,589 shares of the utilities provider’s stock worth $101,000 after acquiring an additional 2,566 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays dropped their price target on shares of PG&E from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, January 22nd. The Goldman Sachs Group assumed coverage on shares of PG&E in a research note on Wednesday, April 10th. They set a “buy” rating and a $21.00 price target for the company. Finally, StockNews.com raised shares of PG&E from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, PG&E currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.78.

About PG&E

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.